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Flora Growth Corp. (FLGC) announced a $401 million funding round through a private investment in public equity offering, with $22.88 million coming from strategic investor Defi Development Corp. The company plans to rebrand as ZeroStack following the transaction’s completion.
The offering includes $366 million in digital assets and $35 million in cash commitments. Investors are purchasing common shares at $25.19 per share, with $0G tokens valued at $3.00 each. The $0G cryptocurrency, native to the 0G distributed AI infrastructure project, will serve as the company’s primary reserve asset.
DeFi Dev Corp. leads the funding round alongside Hexstone Capital and Carlsberg SE Asia PTE Ltd. Additional participants include Dao5, Abstract ventures, Dispersion Capital, Blockchain Builders Fund, and Salt.
The transaction is expected to close around September 26, 2025, subject to customary conditions. Flora Growth intends to use proceeds to acquire additional $0G tokens.
As part of the restructuring, Flora Growth will appoint Michael Heinrich, co-founder of 0G, as Executive Chairman and Daniel Reis-Faria as CEO. The company will retain its FLGC ticker symbol after rebranding.
"We’re thrilled to partner with FLGC on this fundraise and look forward to driving a deep collaboration between 0g and Solana," said Joseph Onorati, CEO of Defi Development Corp.
Flora Growth currently operates as a global pharmaceutical distributor through its subsidiary Phatebo GmbH. The company describes the treasury strategy as offering institutional investors equity-based exposure to AI infrastructure development.
The private placement is being conducted under Regulation D exemption and is available only to accredited investors, according to the company’s statement.